FACT CHECK: Did FTX Sponsor Study On Ivermectin Efficacy?

Joseph Casieri | Fact Check Reporter

A post shared on Instagram purports defunct Crypto exchange FTX funded international research collaboration group TOGETHER’s study discrediting Ivermectin’s efficacy in treating COVID-19.

Verdict: False

FTX became a sponsor of TOGETHER a few months after the study from the foundation was released. There is no evidence the company had directly influenced the study.

Fact Check:

The Department of Justice has recently requested an independent examiner to investigate the fraud claims surrounding FTX and their owner, Sam Bankman-Fried, according CNBC News.  In a recent interview, the former CEO defended himself, stating he did not commit fraud, CNBC News reported.

The Instagram post purports that FTX was one of the sponsors of a recent study that called into question the efficacy of Ivermectin in treating Covid-19 infections. The post features a screenshot of a tweet claiming FTX funded the study littered with text from the Instagram user.

“Holy crap look who funded the trial that said Ivermectin didn’t work,” the tweet reads. (RELATED: Does This Video Show Ted Cruz Saying He Has Documents That Would Implicate Adam Schiff?)

There is no credible news report that supports the claim that FTX was a sponsor of that study. While FTX is not listed as a trial funder on TOGETHER’s website, the exchange did become a sponsor of the organization in May 2022 after the Ivermectin study was released in March 2022.

TOGETHER Trial’s study found that Ivermectin was not effective in reducing hospitalization of Covid-19. “Treatment with ivermectin did not result in a lower incidence of medical admission to a hospital due to progression of Covid-19.”

This is not the first time misinformation about COVID-19 has spread online. Check Your Fact recently debunked a claim that the Director of the World Health Organization said the COVID-19 vaccine kills children.

Joseph Casieri

Fact Check Reporter

Trending

FACT CHECK: Did Jim Jordan Send Joe Biden To Jail Over 'Shocking Laptop Photos'?
FACT CHECK: Did Republicans Pay For The Trump Dossier?
FACT CHECK: Does Lauren Boebert Have A Net Worth Of 'Over $12 Million?'
FACT CHECK: Did Kamala Harris Call Joe Biden 'Trash'?